Apple Stops Online Store Sales In Russia Amid Ruble Value Drop

0

Apple has stopped selling its hardware online in Russia, owing to the currently volatile state of the Ruble, the country’s official currency. In a statement provided to Bloomberg, the company said that it’s taking things offline while it goes through the process of evaluating its pricing, and apologized to customers put out by the site being taken down.

Apple’s decision to close down shop for the time being comes after it recently raised iPhone prices to try to compensate for the falling value of local currency, but the interest rate in Russia rose by 7.5 percentage points overnight, in an attempt to turn the Ruble’s nosedive around. That hasn’t succeeded, and Russia is in the midst of what’s being called “an economic crisis” by observing economists, so it’s unsurprising that Apple lacks confidence in its ability to continue selling products under those market conditions.

We’ll keep an eye on the store and provide updates if it returns, or if Apple makes any additional statements regarding the situation.